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Wednesday, December 6, 2017

=lululemon athletica (LULU) reported earnings on Wed 6 Dec 17 (a/h)

lululemon athletica beats by $0.04, beats on revs; guides Q4 EPS and rev above consensus 
  • Reports Q3 (Oct) earnings of $0.56 per share, excluding non-recurring items, $0.04 better thanthe Capital IQ Consensus of $0.52; revenues rose 13.7% year/year to $619 mln vs the $610.56 mln Capital IQ Consensus. 
  • Total comparable sales increased 8%, or increased 7% on a constant dollar basis vs. guidance for mid single digit growth. Comparable store sales increased 2%, or increased 1% on a constant dollar basis. Direct to consumer net revenue increased 26%, or increased 25% on a constant dollar basis.
  • Adjusted gross margin was 52.2%, an increase of 110 basis points.
  • Co issues upside guidancefor Q4, sees EPS of $1.19-1.22, excluding non-recurring items, vs. $1.17 Capital IQ Consensus Estimate; sees Q4 revs of $870-885 mln vs. $869.64 mln Capital IQ Consensus, based on a total comparable sales increase in the mid-single digits on a constant dollar basis. 
  • "As we start the holiday season, I'm energized by our momentum and we are increasing guidance to reflect this performance. I'm grateful for the enthusiasm I see every day across our collective as we remain on our path to delivering $4 billion in revenue in 2020."
  • Co also announced that its board of directors has approved a new stock repurchase program for up to $200 million of its common shares in the open market at prevailing market prices.

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